Constellation Brands (STZ) Updates FY18 Earnings Guidance

Constellation Brands (NYSE:STZ) updated its FY18 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $8.40-8.50 for the period, compared to the Thomson Reuters consensus estimate of $8.44.

A number of brokerages recently issued reports on STZ. Evercore ISI lifted their price target on shares of Constellation Brands from $235.00 to $250.00 and gave the stock an outperform rating in a research note on Friday. SunTrust Banks reiterated a buy rating and set a $230.00 target price on shares of Constellation Brands in a research note on Friday, October 6th. Pivotal Research boosted their target price on shares of Constellation Brands from $250.00 to $265.00 and gave the company a buy rating in a research note on Thursday, October 5th. Morgan Stanley boosted their target price on shares of Constellation Brands from $218.00 to $245.00 and gave the company an overweight rating in a research note on Friday, October 6th. Finally, Citigroup reissued a neutral rating and set a $232.00 price target (up previously from $211.00) on shares of Constellation Brands in a report on Monday, October 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $225.55.

Shares of Constellation Brands (NYSE:STZ) traded down $5.91 during midday trading on Friday, reaching $219.88. 9,907,400 shares of the company’s stock were exchanged, compared to its average volume of 1,370,000. Constellation Brands has a 52 week low of $144.00 and a 52 week high of $229.50. The company has a quick ratio of 0.69, a current ratio of 1.61 and a debt-to-equity ratio of 1.01. The firm has a market cap of $43,000.00, a P/E ratio of 28.12, a price-to-earnings-growth ratio of 1.46 and a beta of 0.08.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Friday, January 5th. The company reported $2.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.13. Constellation Brands had a net margin of 21.47% and a return on equity of 22.81%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the company earned $1.96 EPS. sell-side analysts anticipate that Constellation Brands will post 8.43 EPS for the current year.

In other news, insider William A. Newlands sold 2,935 shares of the company’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $210.10, for a total value of $616,643.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Thomas J. Mullin sold 50,000 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $209.45, for a total value of $10,472,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,662 shares of company stock worth $15,564,585. Corporate insiders own 15.59% of the company’s stock.

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About Constellation Brands

Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.

Earnings History and Estimates for Constellation Brands (NYSE:STZ)

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